EclectEcon

Economics and the mid-life crisis have much in common: Both dwell on foregone opportunities

C'est la vie; c'est la guerre; c'est la pomme de terre                                     A View from/of the Econochasm by John Palmer

Richard Posner deserves the next Nobel Prize in Economics
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Promoting Off-shore Oil Drilling Will Be Good for the Environment
Tom Hanna argues quite convincingly that those who oppose opening up more off-shore oil drilling are really elitists who don't want their views "spoiled" and who really don't give two hoots about the environment:
We can let oil companies drill here, where they'll be expected to keep it clean and be proactive to prevent problems, or we can import more oil from Nigeria, which «has one of the worst environmental records in the world. In recent years, the country has seen the execution of a Nobel Peace Prize nominee, widespread social and environmental problems stemming from oil operations in the Niger River delta, and the world's highest deforestation rate.

We can have a few more oil rigs breaking the clean blue line of the Hollywood horizon or we can help finance the Russian exploration of the Arctic, leaving the Arctic Ocean to the devices of the country that «succeeded in wiping from the map almost an entire sea - the Aral, now largely a toxic desert - and turning the world's deepest freshwater lake, Baikal, into a borscht of cadmium and mercury deposits.» How do you think those Alaskan lichens will fare if the Russians repeat their recent history?

And, by the way, aren't our neighbors to the North a socialist paradise that can do no wrong? Yet, they also seem to be expanding oil production as fast as humanly possible - and selling it to us. If oil production is so bad for the environment, why are the sainted Canadians doing it and why isn't Barack Obama demanding they stop?
Let me add a question: Which is worse for the environment, off-shore drilling or converting Alberta tar sands into refineable crude?
Category: Economics, Energy, Gubmnt Posted on Friday, June 20, 2008 at 1:31am
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